Information Technology and Operations Technology (IT-OT) Convergence Powers the Global Industry 4.0 Market for Mechanical Test Applications

Information Technology and Operations Technology (IT-OT) Convergence Powers the Global Industry 4.0 Market for Mechanical Test Applications

  • April 2021 •
  • 96 pages •
  • Report ID: 6067707 •
  • Format: PDF
The impact of the convergence of Information Technology (IT) and Operational Technology (OT) has been tremendous in recent times. Benefits of this convergence can be seen even in traditional markets (e.g., mechanical testing). The world is staring at an economic mess propelled by the catastrophic outbreak of COVID-19. In 2020, the demand for digitalization plummeted. Several technological advancements (e.g., 3D printing) are helping manufacturers create complex products like never before. These products are so complex and intricate that it is no longer possible to inspect and test these objects using traditional inspection and test mechanisms such as Coordinate-measuring Machines (CMMs) or optical measurement systems. Predictive and proactive maintenance of machines is the need of the hour. All these development have led to emerging applications of Industry 4.0 in the field of mechanical testing. Industry 4.0 is still in a nascent stage of adoption in the mechanical test market, yet its potential has been tremendous. The high initial costs and a lack of supportive infrastructure are expected to impede market growth during the forecast period. However, access to inexpensive wireless sensors, cloud-based data storage, and Artificial Intelligence (AI)-based analytics are all expected to drive the case for Industry 4.0 in the mechanical test market.